Glaukos Corporation (NYSE:GKOS) Receives Average Rating of “Moderate Buy” from Brokerages

Glaukos Corporation (NYSE:GKOS) has been given a consensus recommendation of “Moderate Buy” by the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $116.9231.

A number of research firms recently commented on GKOS. Wells Fargo & Company boosted their target price on Glaukos from $86.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 31st. The Goldman Sachs Group started coverage on Glaukos in a research report on Wednesday, October 1st. They set a “buy” rating and a $103.00 price objective on the stock. UBS Group upped their price objective on Glaukos from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. William Blair upgraded Glaukos to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Glaukos in a research report on Saturday.

Institutional Investors Weigh In On Glaukos

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its position in Glaukos by 6.1% during the first quarter. Wellington Management Group LLP now owns 2,290,790 shares of the medical instruments supplier’s stock valued at $225,460,000 after purchasing an additional 131,251 shares during the period. State Street Corp raised its holdings in shares of Glaukos by 5.3% in the second quarter. State Street Corp now owns 2,090,365 shares of the medical instruments supplier’s stock worth $215,914,000 after buying an additional 105,972 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Glaukos by 3.5% in the second quarter. Ameriprise Financial Inc. now owns 1,999,252 shares of the medical instruments supplier’s stock worth $206,503,000 after buying an additional 68,497 shares during the period. Primecap Management Co. CA raised its holdings in shares of Glaukos by 50.0% in the second quarter. Primecap Management Co. CA now owns 1,827,998 shares of the medical instruments supplier’s stock worth $188,814,000 after buying an additional 609,523 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Glaukos by 9.5% in the second quarter. Geode Capital Management LLC now owns 1,330,593 shares of the medical instruments supplier’s stock worth $137,454,000 after buying an additional 115,529 shares during the period. 99.04% of the stock is currently owned by hedge funds and other institutional investors.

Glaukos Price Performance

NYSE:GKOS opened at $74.60 on Tuesday. The company has a current ratio of 5.51, a quick ratio of 4.69 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $4.28 billion, a P/E ratio of -45.21 and a beta of 0.76. Glaukos has a 12 month low of $73.73 and a 12 month high of $163.71. The business’s 50-day moving average is $86.40 and its 200 day moving average is $91.90.

Glaukos (NYSE:GKOS) last posted its earnings results on Wednesday, July 30th. The medical instruments supplier reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.02. The company had revenue of $124.12 million for the quarter, compared to the consensus estimate of $115.49 million. Glaukos had a negative return on equity of 8.59% and a negative net margin of 21.43%.The firm’s revenue for the quarter was up 29.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.52) earnings per share. Glaukos has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Glaukos will post -1.08 earnings per share for the current fiscal year.

About Glaukos

Glaukos Corporation, an ophthalmic pharmaceutical and medical technology company, focuses on the development of novel therapies for the treatment of glaucoma, corneal disorders, and retinal diseases. It offers iStent and iStent inject W micro-bypass stents that enhance aqueous humor outflow inserted in cataract surgery to treat mild-to-moderate open-angle glaucoma.